WV Mortgage Rates and First-time Homebuyer Programs
West Virginia is nestled among the Appalachian Mountains and has a rich state history dating back to the Revolutionary War. Its beautiful mountains and rushing rivers provide countless venues for those who love the outdoors, while its proximity to the nation's capitol provides convenient access to government offices, historical sites and world-class museums.

If you want to purchase a home in West Virginia, and haven’t owned a home within the last three years, several programs are available to you. These programs offer low interest loans and, in some cases, assistance with the down payment and closing costs on your new home.

Several distinct programs are available through the West Virginia Housing Development Fund. Any one of the following programs may fit your situation and help you get into your first home:

• WVHDF 3-2-1 Buydown Program
• WVHDF Homeownership Assistance Program
• WVHDF Mortgage Revenue Bond Program
• WVHDF Secondary Market Program

West Virginia 3-2-1 Buydown Program offers Adjustable Mortgage Rates
The West Virginia Housing Development Fund has a 3-2-1 buy down program that assists families with purchasing a new home. For the first three years of owning the home, buyers get a discount on their approved mortgage rates of 3 percent in the first year, 2 percent in the second year, and 1 percent in the third.

The Home Ownership Assistance Program for Down Payment Assistance
For some West Virginia residents, the Home Ownership Assistance Program offers the funds needed to purchase a home. This loan program uses low WV mortgage interest rates to lend up to a certain amount to potential homebuyers. These funds are meant to be used for closing costs and the down payment on a home.

Low Mortgage Rates from the West Virginia Mortgage Revenue Bond Program
The Mortgage Revenue Bond Program is also called the First Time Homebuyer Program. It has lower than current WV mortgage rates, but it also has certain requirements. The borrowers must meet income requirements and their potential home must be within a certain price range. The bond program offers 25- to 30-year, fixed-rate mortgage loans with up to 100 percent financing available.

WVHDF Secondary Market Program for Low WV Mortgage Interest Rates
The Secondary Market Program is a unique statewide program that helps West Virginia residents become homeowners. It’s unique in that it doesn’t require buyers to be first time homebuyers, and it has no income limits. The mortgage rates offered by this program are competitive with current WV mortgage interest rates and require only a 3 percent down payment.